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Price Analysis

Steem (STEEM) Steps Up Beating The 30 Days Downtrend; A Surge In Price Is On The Cards

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Steem is the only blockchain based social network empowering communities around the world to share and publish content through its real-time applications like Steemit, a blogging platform. The user-generated content based model rewards the contributors to making maximum contributions. With over 1 million users already being part of the system, Steem is increasingly gaining popularity through its innovative features. Its other applications like DTube (decentralized video platform), eSteem (mobile-based app) and Utopian (open source project funding) are in-demand already. Steem rewards the users for building their own community, publishing thoughts, Q&A and news by giving away SMT (Smart Media Token) and through this, it entices more users on its platform. It was founded in 2016 by Ned Scott and Dan Larimer and has seen a meteoric growth ever since.

Current Statistics:

Steem Price Chart (25.03.2019 - 22.04.2019)As on April 22, 2019 at 11:34:04 UTC, the market cap of STEEM is recorded at 128,652,297 USD, the price is trading at 0.41 USD & 0.00007817 BTC and 24 h volume stood at 1,675,017 USD. The crypto has been ranked at 53rd position trailing Verge with a nominal difference and will be able to cross the top 50 resistance level soon. The circulating supply of the coin has reached 311,851,963 STEEM, the total supply is noted at 328,826,057 STEEM, and the ROI is -35.87%.

Comparison:

If we notice the last 30-day pattern, the highest price reached USD 0.54 and the lowest was recorded at USD 0.40. Past seven days has seen a slight dip and the coin is moving sideways, the lowest being at USD 0.41 & highest at USD 0.45. As on March 25, 2019, at 05:34:01 UTC, the market cap was recorded 147,974,038 USD, the price was trading at 0.48 USD & 0.00011956 BTC, and the 24 h volume was 4,414,613 USD. Although a downtrend of over -14% is seen, the STEEM community is rising at a fast pace and gaining popularity around the globe. With new advancements in the current algorithm & rising popularity, the coin will soon be climbing up the ladder and making significant progress in the crypto world.

Prediction:

STEEM is often called the ‘Facebook of the crypto world’ and rightly so. It has grown its popularity quotient in a very short period and continues to do so with its unique revenue model. It has created a win-win situation for the users & businesses by rewarding users for the curated content and providing an opportunity for the businesses to understand consumer sentiment. STEEM has the potential to take the microtransaction market to newer heights through its transactions with lightning speed feature. It will soon make it to the top 50 cryptocurrencies list with the growing enthusiasm and community interest. From a 2-year perspective, the price can reach as high as USD 2 and can cross the USD 5 mark by 2024.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.
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